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VAT compliance for Bahrain businesses in KSA and UAE

To do or not to do in Bahrain and abroad.

12 March 2018, 8:30AM - 1:00PM, AST Manama, Bahrain

Value-added tax (VAT) has now been live in the Kingdom of Saudi Arabia (KSA) and the United Arab Emirates (UAE) for 2 months and businesses with operations in either one or both countries continue to face challenges. This goes from understanding the applicable VAT treatment to their outgoing and incoming transactions, technology and government interaction (or equal poor knowledge) to IT set-ups to address the compliance needs.

We now have seen a first (smaller) wave of VAT compliance exercises by businesses and several lessons can be learned varying from end-to-end process control implementation, transaction booking and records keeping to the actual completion of tax returns and filing principles.

KPMG in Bahrain is pleased to invite you to a seminar that will review the lessons learned and the action points to roll out in the next periods to ensure a seamless “VAT compliance in KSA and UAE”. The seminar is aimed at Bahraini companies with operations in UAE and KSA to enable them to manage the new tax compliance burdens. We will step away from concepts and review important and sometimes forgotten operational aspects required for correct and value-add tax compliance.

Not only Bahrain based companies with activities abroad will benefit from the seminar. We will also cover solutions and approaches for tax compliance in Bahrain that now have proven their merit elsewhere in the GCC region and place these in the right context for businesses to make the right decision based on their tailored needs.

Important practical issues will be tackled that give businesses headaches. These include the VAT treatment of trade between a GCC state, which has implemented VAT, and one that has yet to implement VAT (like Bahrain). Designated zones in the UAE and the concept of reverse charge (including the set-up into the systems) will also be discussed in addition to the strategy to respond to suppliers and clients already working under the VAT system in KSA and UAE.

Finally, we will be giving a status update on the implementation of VAT in Bahrain. Philippe Norré, Tax & Legal Partner and Head of Indirect Taxes at KPMG in Bahrain will be the keynote speaker.

Who should attend?

The seminar is aimed at adding value to Heads of Finance, Finance managers, Internal Auditors and COOs across all sectors. If you are looking to gain deeper insight on the impact of VAT on various business functions and the steps required to achieve cost-effective and added-value compliance, you will not be disappointed when attending.

Agenda

08:30am – 09:00am: Arrival and breakfast.

09:00am – 9:30am: Welcome and introduction – status update and insights on VAT in the GCC and Bahrain.

KPMG International Cooperative (“KPMG International”) is a Swiss entity. Member firms of the KPMG network of independent firms are affiliated with KPMG International. KPMG International provides no client services. No member firm has any authority to obligate or bind KPMG International or any other member firm vis-à-vis third parties, nor does KPMG International have any such authority to obligate or bind any member firm.